Sundance Energy Inc. Announces Appointment of Stephen J. McDaniel to Board of Directors

Michael D. Hannell to Step Down as Chairman in Connection with Previously Announced Retirement

DENVER, Dec. 10, 2019 (GLOBE NEWSWIRE) -- Sundance Energy Inc. (NASDAQ: SNDE) (“Sundance” or the “Company”), a U.S. onshore oil and gas exploration and production company focused in the Eagle Ford in South Texas, today announced that Stephen J. McDaniel has been appointed to serve as an independent, non-executive member of the Company’s Board of Directors.

Current Chairman of Sundance, Michael D. Hannell, will continue to serve as Chairman of the Board through December 31, 2019, at which time Mr. Hannell will step down and Mr. McDaniel will transition to the role of Chairman.  As previously announced, Mr. Hannell intends to retire from the Board, which is expected to be effective in April 2020 to ensure an orderly transition of leadership responsibilities.  Subsequent to Mr. Hannell’s retirement, the Company’s Board of Directors will comprise seven directors, six of whom will be independent non-executive directors and five of whom will be U.S. based directors.

Eric McCrady, Sundance’s Chief Executive Officer said “I would like to thank Mike for his many years of service to Sundance. Under Mike’s Chairmanship the company grew from a small non-operating company with ~4 boepd of production to a best-in-class operator with ~13,600 boepd of production. We would not be where we are today if not for his many contributions. Since joining our board in 2006 and becoming our Chairman in 2008, he has continually provided Sundance with guidance and wisdom, and we are incredibly grateful.”

Mr. McDaniel has led a distinguished career in the oil and gas industry, presently serving on the Board of Directors for Ultra Petroleum Corporation (OTCQX: UPLC), Encino Energy, a $2 billion private exploration and production company, and Bazean Corporation, an oil and gas focused technology company.

Mr. McDaniel previously founded Midstates Petroleum Company, serving as its Chairman and CEO. Mr. McDaniel built Midstates from a start-up company with less than $1 million in equity capital and grew the company to an enterprise value of approximately $1 billion at the time of its IPO in 2012.

Prior to founding Midstates, Mr. McDaniel spent nine years in investment banking predominantly at Merrill Lynch where he served as Managing Director in the global energy and power group focused on large scale M&A and capital markets transactions. Mr. McDaniel began his career with ConocoPhillips where he spent 13 years in roles of increasing responsibility in engineering, operations, and business development, ultimately serving in a corporate business development role as Vice President of Business Development for Conoco Overseas Oil Company.